SYDNEY, AUSTRALIA: Pinnacle Minerals Ltd (ASX: PIM) announced that Maurice (Nic) Matich has been appointed as Chief Executive Officer of the Company.

Nic is a mechanical engineer and finance professional with over 15 years’ experience in the resources sector. His wide industry experience includes the provision of engineering, risk consulting and insurance services to numerous tier 1 mining companies with operations in mineral sands, kaolin, iron ore, gold and zinc.

Nic has a deep understanding of the industrial minerals thematic having covered the sector as an analyst for Patersons Securities and more recently as Executive Director of Heavy Minerals Limited that Nic lead to listing on the ASX in 2021. Nic was the key driver of the company, delivering both a maiden resource and scoping study in his first twelve months as Executive Director there.

Commenting on the appointment, Chairman William (Chub) Witham said, “Having Nic join Pinnacle Minerals as its new CEO is a very important step towards growing the Company. Nic’s knowledge of the industrial mineral sector and his experience in delivering results will be invaluable for the evolution of Pinnacle Minerals.

We have been very fortunate to secure Nic’s services and we look forward to working with Nic in building the Company and progressing our key projects.”

“I thank the Pinnacle Minerals board for this exciting opportunity to drive the company as CEO and look forward to delivering positive results for the company and its’ shareholders,” Nic said.

Nic’s key employment terms are set out below. In determining Nic’s target remuneration, the board had input from external consultants and information on Australian peer company benchmarks. The board has aimed to develop an effective remuneration framework that increases shareholder value by rewarding Nic for strong business performance. Consistent with this strategy, the remuneration package includes both STI & LTI components that are specifically designed to ensure that Nic’s interests and those of shareholders are closely aligned.